What's Happening?
Washington Trust Advisors, Inc., a subsidiary of The Washington Trust Company, has finalized the acquisition of Lighthouse Financial Management, LLC, a Westerly-based advisory firm. The transaction, completed on July 31, 2025, brings Lighthouse Financial's team and its $190 million in assets under management into Washington Trust Wealth Management. This move is part of Washington Trust's strategy to expand its wealth management division. Lighthouse Financial, founded by Stephen C. Poplaski, PhD, CPA, CFP®, offers investment, tax, and retirement planning services. The acquisition will enhance Washington Trust's client-focused services with additional expertise in behavioral personal finance and planning.
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Why It's Important?
The acquisition of Lighthouse Financial by Washington Trust is significant for the wealth management industry, particularly in the Northeastern United States. By integrating Lighthouse Financial's expertise, Washington Trust aims to strengthen its position as a leading regional wealth advisory group. This expansion is expected to provide clients with enhanced financial planning resources and services, potentially increasing client satisfaction and retention. The move also reflects a broader trend of consolidation in the financial services sector, where firms seek to leverage synergies and expand their market presence.
What's Next?
Following the acquisition, Washington Trust Wealth Management plans to integrate Lighthouse Financial's team into its operations, including Stephen C. Poplaski and other key personnel. The expanded team will focus on delivering customized financial solutions to clients across Rhode Island, Massachusetts, and Connecticut. Washington Trust is also investing in technology to improve service delivery, which may lead to further enhancements in client experience. The company will continue to explore opportunities for growth and expansion in the wealth management sector.
